ATECO is a South Korean company that specialises in the design and development of memory test handler solutions. The sale shares were acquired by ASG during the financial year ended Dec 31, 2021.
AEM Holdings subsidiary AEM Singapore (ASG) has entered into a share purchase agreement to dispose of all of its 470,504 common shares and 994,220 preferred shares in ATECO for approximately $6.8 million.
The agreement was entered with institutional investors LB Innovation Growth Fund II, JP-IBKS Innovation MPE Fund No 1, JP-IBKS Innovation MPE Fund No 2 and New Deal Extension New Technology Fund No. 1, as well as and Foong Wai Fee, one of ATECO’s registered directors.
